China is planning a new policy to boost the share of Chinese-brand passenger vehicle sales in the domestic auto market, the world's largest, to at least 50% by 2015, the state-run China Daily reported Monday, citing unnamed sources.
The report said the central government will implement the new policy, which will also focus on accelerating the consolidation of the domestic car industry, in the first half of this year.
Sales of domestic-branded passenger cars totaled 4.58 million last year, accounting for 44% of total passenger car sales, the paper reported, citing China Association of Automobile Manufacturers data.
(Source: irco.biz)
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